The bill establishes specific financial parameters for the fiscal year 2026, including a property dollar equivalent yield of $8,596.00, an income dollar equivalent yield of $12,172.00, and a nonhomestead property tax rate of $1.703 per $100.00 of equalized education property value. These provisions are set forth in Section 1 and override any conflicting laws.

Additionally, Section 2 amends the definition of the equalized value of the housesite, clarifying the calculation method by replacing the previous language regarding the municipality's common level of appraisal. The bill will take effect on July 1, 2025, as stated in Section 3.

Statutes affected:
As Introduced: 32-6061
As Passed By the House -- Official: 32-6061
As Passed By the House -- Unofficial: 32-6061
As Passed by Both House and Senate -- Official: 32-6061
As Passed by Both House and Senate -- Unofficial: 32-6061
As Enacted: 32-6061